September and Third Quarter in Figures
October 1, 2017
The Fed, ECB, and BOJ did not change monetary policy during the third quarter, so short-term interest rates were very stable. But more hawkish talk from the Fed and ECB, a surprise Bank of Canada rate hike, and higher British inflation lifted longer-term rates in those economies during the quarter.
A mixed dollar in August was exemplified by a decline of more than 3.0% against the Aussie dollar but appreciation of over 3.0% versus the yen. Equities in Germany and Japan strengthened more sharply last month than in the United States. All stock markets covered in the table below experienced rises during the third quarter.
West Texas Intermediate crude oil climbed 12.0% in 3Q, and most of the gain occurred last month. Gold dropped 2.6% in September, trimming its third-quarter advance to 3.3%.
| 10-Yr Yield | 09/29/17 | Chg vs End-Aug | Chg vs -End-2Q |
| U.S. | 2.34% | +22 Basis points | +4 Basis Points |
| Germany | 0.46% | +10 | 0 |
| Japan | 0.05% | -2 | -2 |
| U.K. | 1.36% | +13 | +11 |
| Canada | 1.10% | +5 | +33 |
| Switzerland | -0.08% | -7 | -1 |
| 3-month rates | 09/29/17 | Chg vs End-Aug | Chg vs End-2Q |
| U.S. | 1.34% | +2 Basis Points | +4 Basis Points |
| Euroland | -0.38% | 0 | -1 |
| Japan | -0.05% | -4 | -5 |
| U.K. | 0.33% | +4 | +2 |
| Swiss | -0.73% | 0 | 0 |
| FX | 09/29/17 | Chg vs End-Aug | Pct Chg in $ |
| EUR/USD | 1.1814 | +0.8% | -3.3% |
| USD/JPY | 112.46 | +3.1% | 0.0% |
| USD/CHF | 0.9681 | +0.8% | +1.0% |
| GBP/USD | 1.3399 | -3.5% | -2.8% |
| AUD/USD | 0.7837 | +1.4% | -1.9% |
| NZD/USD | 0.7206 | -0.4% | +1.7% |
| USD/CAD | 1.2475 | -0.1% | -3.6% |
| USD/CNY | 6.6526 | +0.9% | -1.9% |
| Equities | 09/29/17 | Chg vs End-Aug | Chg vs End-2Q |
| S&P 500 | 2519 | +2.0% | +4.0% |
| Nasdaq | 6496 | +1.0% | +5.8% |
| Djia | 22405 | +2.1% | +4.9% |
| Dax | 12829 | +6.4% | +4.1% |
| Nikkei | 20356 | +3.6% | +1.6% |
| Ftse | 7373 | 0.0% | +0.8% |
| Canada TSE | 15635 | +2.8% | +3.0% |
| Swiss SMI | 9157 | +2.6% | +2.8% |
| Commodities | 09/29/17 | Chg vs End-Aug | Chg vs End-2Q |
| Oil, $ per barrel | 51.67 | +9.4% | +12.2% |
| Gold, $ per ounce | 1281.50 | -2.6% | +3.3% |
Copyright Larry Greenberg 2017. All rights reserved. No secondary distribution without express permission.
Tags: bonds, foreign exchange, gold and oil, stocks
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